Hudson Valley Mall Purchased by Hull Property Group

ULSTER, N.Y. -- Hudson Valley Mall in Ulster, the town's single largest taxpayer, has some new ownership.

The Hull Property Group released an official statement Thursday saying it has purchased the mall.

This comes after Ulster's town supervisor first announced a contract with the group in December.

The mall had lost a number of major tenants in recent years, including Macy's and  JCPenney. 

In their statement, the new owners touched on both the future of the mall and the surrounding area.

A representative called the Highway 9-W retail corridor "too important to fail."

Hull Property Group already owns nearly 30 other malls across the country.